Alta Fundamental Advisers LLC

Name: Alta Fundamental Advisers LLC 13F holdings, Q2 2025
Creator: Alta Fundamental Advisers LLC
Published: 2025-08-13

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Alta Fundamental Advisers LLC reported 18 stock positions worth $180.2 million. Its top holding was USA Today (TDAY) at 22.2% of the portfolio, followed by Lucky Strike Entertainment C (LUCK, 11.1%) and Archer Aviation Class A (ACHR, 10.4%). Compared with Q1 2025, it opened 2 new positions, sold out of 2, added to 5 and reduced 5. The biggest buy was Archer Aviation Class A (ACHR, shares +26%) and the biggest sale an exit from United States Steel (X).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001641604
Portfolio Value: $180.2M (Q2 2025)
SEC Filing: 0001641604-25-000005 ↗ filed Aug 13, 2025

Holdings Value

Holdings 18 stocks · $180.2M


TDAY USA Today Co. Inc. filed as GANNETT CO INC	22.19%	11,165,692	$40.0M	No change
LUCK Lucky Strike Entertainment C	11.06%	2,182,457	$19.9M	Reduce -3.1%
ACHR Archer Aviation Inc. Class A	10.43%	1,732,633	$18.8M	Add +26.1%
ARQ Arq Inc.	6.09%	2,044,122	$11.0M	No change
PEG Public Service Enterprise GP	6.02%	128,745	$10.8M	Reduce -10.4%
EXE Expand Energy Corp.	5.38%	82,960	$9.7M	No change
HUDSON PAC PPTYS INC	4.88%	3,205,729	$8.8M	Add +68.2%
INDV Indivior Ltd.	4.70%	575,049	$8.5M	Add +71.9%
AMR Alpha Metallurgical Resource	4.62%	74,058	$8.3M	No change
BTU Peabody Energy Corp.	4.48%	601,241	$8.1M	Reduce -4.0%
CLMT Calumet Inc.	4.02%	459,937	$7.2M	No change
PUMP Propetro Holding Corp.	3.81%	1,150,000	$6.9M	New
ABX Abacus Global Management Inc.	2.93%	1,028,139	$5.3M	Add +54.8%
ANIK Anika Therapeutics Inc.	2.67%	454,944	$4.8M	Reduce -3.4%
GNW Genworth Financial Inc.	2.38%	550,494	$4.3M	Add +3.7%
LAZYDAYS HLDGS INC	1.97%	14,563,106	$3.5M	No change
MIST Milestone Pharmaceuticals Inc.	1.51%	1,398,977	$2.7M	Reduce -2.0%
VST Vistra Corp.	0.86%	7,950	$1.5M	New

Options reported separately and not counted above: BRISTOL-MYERS SQUIBB CO calls ($5.3M), PFIZER INC calls ($5.2M), GENWORTH FINL INC calls ($1.8M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $2.7M (not counted above)

Security	Class	Shares / Principal	Value	Change
HTZWW Hertz Global Hldgs Inc. -CW51	*W EXP 06/30/205	745,105	$2.7M	No change

Total filed on the 13F, all lines: $182.9M.

Portfolio Sells Q1 2025 → Q2 2025


X United States Steel Corp.	Sold out	0.00%	−3.63
LUCK Lucky Strike Entertainment C	Reduce -3.1%	11.06%	−3.26
ANIK Anika Therapeutics Inc.	Reduce -3.4%	2.67%	−1.94
PEG Public Service Enterprise GP	Reduce -10.4%	6.02%	−1.69
BTU Peabody Energy Corp.	Reduce -4.0%	4.48%	−1.05
TSEOQ Trinseo PLC	Sold out	0.00%	−0.13
MIST Milestone Pharmaceuticals Inc.	Reduce -2.0%	1.51%	+0.76

Portfolio Buys Q1 2025 → Q2 2025


ACHR Archer Aviation Inc. Class A	Add +26.1%	10.43%	+4.07
PUMP Propetro Holding Corp.	New	3.81%	+3.81
INDV Indivior Ltd.	Add +71.9%	4.70%	+2.63
HUDSON PAC PPTYS INC	Add +68.2%	4.88%	+1.21
VST Vistra Corp.	New	0.86%	+0.86
GNW Genworth Financial Inc.	Add +3.7%	2.38%	−0.08
ABX Abacus Global Management Inc.	Add +54.8%	2.93%	−0.31

Options Activity Q1 2025 → Q2 2025


BRISTOL-MYERS SQUIBB CO	call	New	100,000	$5.3M
PFIZER INC	call	New	200,000	$5.2M
GENWORTH FINL INC	call	New	250,000	$1.8M
FRONTIER GROUP HLDGS INC	put	Sold out	100,400	$402Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	22	$275.6M	TDAY, LILAK, PUMP, INDV, CC
Q1 2026	20	$252.4M	TDAY, LILAK, PUMP, BTU, CC
Q4 2025	20	$211.5M	TDAY, PUMP, BTU, LILAK, INDV
Q3 2025	19	$203.0M	TDAY, LILAK, BTU, ACHR, CC
Q2 2025	18	$180.2M	TDAY, LUCK, ACHR, ARQ, PEG
Q1 2025	18	$153.5M	TDAY, LUCK, PEG, ACHR, AMR
Q4 2024	17	$268.4M	TDAY, LUCK, PEG, ACHR, AMR
Q3 2024	21	$240.1M	TDAY, LUCK, AMR, BTU, PEG
Q2 2024	21	$227.1M	TDAY, LUCK, AMR, PEG, ARQ
Q1 2024	15	$197.7M	LUCK, AMR, TDAY, EXE, PEG